[HN Gopher] Fire the Fed
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       Fire the Fed
        
       Author : connor11528
       Score  : 6 points
       Date   : 2023-03-16 21:53 UTC (1 hours ago)
        
 (HTM) web link (mattstoller.substack.com)
 (TXT) w3m dump (mattstoller.substack.com)
        
       | connor11528 wrote:
       | > From 2006-2021, the Fed received over 3,500 merger applications
       | from banks, and didn't deny a single one. This record includes
       | Silicon Valley Bank in 2021 buying Boston Private Bank and Trust,
       | which the Fed board unanimously justified by noting that SVB
       | would not "pose significant risk to the financial system in the
       | event of financial distress."
       | 
       | Crazy to see how the Fed facilitates concentrated financial power
       | and that it didn't used to be that way. Especially nuts that when
       | mergers are under review the Fed says it's fine and if the
       | combined firm failed it wouldn't be a risk but when the failure
       | actually happens..
        
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       (page generated 2023-03-16 23:02 UTC)